Bitumen prices in the Middle East were mixed in August. Iran faced weaker demand from India but saw steady exports to Pakistan, Afghanistan, Africa, and China. Bahrain kept its seaborne prices unchanged at $400/t FOB Sitra, while exports remained stopped after refinery maintenance. Iraq restarted supplies after the Arbaeen pilgrimage, with active sales of drummed and jumbo cargoes to Asia and Africa.
Iran
In Iran, the bitumen market remained under pressure amid weak regional demand, particularly from India during the monsoon season. Limited activity in bulk shipments led some sellers to adjust offers in order to keep exports moving. Bulk FOB Bandar Abbas cargoes were mostly discussed around $341/t, while drummed FOB prices held firmer at about $396/t, widening the spread between the two. Despite the overall slowdown, steady inquiries from Southeast Asia, Africa, and Pakistan provided some support to export flows, with expectations that demand could improve in September as seasonal conditions ease in key markets.
Bahrain
Listed seaborne prices stayed unchanged at $400/t FOB Sitra. Waterborne exports have not yet started after the planned refinery maintenance. However, demand for tank truck exports to neighboring markets remained strong, while domestic demand was stable.
Iraq
Trade was active as supplies reopened from southern Iraq after the Arbaeen pilgrimage. Kurdish suppliers sold at least 6,000t of drummed pen 60/70 at $350–355/t FOB Bandar Abbas to Asia and Africa. Some jumbo bag cargoes were sold to China at $361/t, while embossed VG30 drums were sold at $360/t to India. Prices at Umm Qasr were at $380–390/t FOB, with freight to India adding $7–12/t. Some suppliers raised offers to $395/t but deals were limited. Cargoes to Africa were sold at $475–480/t CFR, equivalent to $405–410/t FOB.
Outlook
Market participants expect Iranian exports to remain pressured by weak Indian demand but supported by Pakistan and African buyers. Bahrain’s export restart timeline is uncertain, keeping regional supply limited. Iraqi prices may strengthen in September as supplies normalize and African demand persists.
Charts
Bitumen 60/70 Price Today in the Middle East
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